Savannah College of Art and Design 401(k) Review & Grade
Savannah College of Art and Design Retirement Plan
Savannah, GAEducational Services1,786 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$3,515Employer $ per active participant
$5,403Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$222.1MNet plan assets, end of year
$88,565Average balance per account
Score breakdown
- Employer generosity44.1 / 5088th percentile for employer $ per participant
- Low cost17.7 / 2571th percentile for low admin cost vs. same-size plans
- Employee saving12.2 / 1581th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
Total score81 / 100 · Grade A
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 88th |
| Lower admin cost | 71th |
| Employee saving | 81th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Savannah College of Art and Design put in about $3,515 per active participant, more than the typical peer ($1,225). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $6,276,634 |
| Participant (employee) contributions | $9,647,716 |
| Other contributions (incl. rollovers in) | $1,388,856 |
| Administrative expenses paid from the plan | $238,464 |
| Contract administrator fees | $238,464 |
| Benefits paid out | $13,299,229 |
| Net assets, start / end of year | $194.2M / $222.1M |
| Active participants, start / end of year | 1,630 / 1,941 |
| Participants with account balances | 2,508 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly, US, LLP |
Largest service providers (Schedule C)
| Cap Financial Partners, LLC | $189,374 reported compensation |
| Tiaa | $34,990 reported compensation |
| Hancock Askew & Co., LLP | $19,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250929075821NAL0011859872001, received 2025-09-29, EIN 58-1357177, plan #002, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.